Cornell Pochily Investment Advisors Inc. bought a new position in shares of Hanesbrands Inc. (NYSE:HBI) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,484 shares of the textile maker’s stock, valued at approximately $223,000.
A number of other hedge funds also recently made changes to their positions in the business. PenderFund Capital Management Ltd. increased its holdings in shares of Hanesbrands by 2.3% in the 4th quarter. PenderFund Capital Management Ltd. now owns 344,000 shares of the textile maker’s stock valued at $6,769,000 after acquiring an additional 7,754 shares during the period. Pacer Advisors Inc. increased its stake in Hanesbrands by 31.6% in the 3rd quarter. Pacer Advisors Inc. now owns 21,707 shares of the textile maker’s stock valued at $400,000 after buying an additional 5,210 shares during the period. Ridgewood Investments LLC increased its stake in Hanesbrands by 13.1% in the 1st quarter. Ridgewood Investments LLC now owns 20,536 shares of the textile maker’s stock valued at $367,000 after buying an additional 2,379 shares during the period. Pinkerton Retirement Specialists LLC increased its stake in Hanesbrands by 0.8% in the 4th quarter. Pinkerton Retirement Specialists LLC now owns 109,313 shares of the textile maker’s stock valued at $1,370,000 after buying an additional 911 shares during the period. Finally, LPL Financial LLC increased its stake in Hanesbrands by 9.6% in the 3rd quarter. LPL Financial LLC now owns 110,383 shares of the textile maker’s stock valued at $2,034,000 after buying an additional 9,703 shares during the period. 96.38% of the stock is owned by institutional investors.
In other news, CFO Barry Hytinen bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was purchased at an average price of $17.56 per share, with a total value of $175,600.00. Following the purchase, the chief financial officer now owns 176,312 shares of the company’s stock, valued at approximately $3,096,038.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.04% of the company’s stock.
Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, May 2nd. The textile maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.25 by $0.02. Hanesbrands had a net margin of 7.99% and a return on equity of 69.68%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the firm earned $0.26 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. Analysts forecast that Hanesbrands Inc. will post 1.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 14th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Monday, May 13th. Hanesbrands’s payout ratio is 35.09%.
HBI has been the topic of several recent research reports. ValuEngine raised shares of Hanesbrands from a “strong sell” rating to a “sell” rating in a research note on Friday, February 8th. Zacks Investment Research cut shares of Hanesbrands from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. Finally, Barclays set a $19.00 target price on shares of Hanesbrands and gave the stock a “hold” rating in a research report on Saturday, February 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $19.69.
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Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children in the United States. The company operates through three segments: Innerwear, Activewear, and International. It sells bras, panties, men's underwear, children's underwear, activewear, socks, hosiery, intimate apparel, shapewears, and home goods; and T-shirts, fleece, sport shirts, performance T-shirts and shorts, sports bras, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.
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